Anglers often times need to perform equipment maintenance while out fishing in difficult field conditions, such as standing in a stream, on a river bank, in a boat, etc. Such maintenance can include cutting a fishing line, replacing tackle or a hook, attaching a weight or lead shot to the fishing line, clearing debris from the eye of a hook and other maintenance tasks. Currently, different tools exist for performing each one of these tasks. For example, tools, such as clippers, are known for allowing an angler to cut the fishing line. Other specific tools also exist for allowing the angler to clear debris from the eye of a hook or crimp a lead shot. However, requiring an angler to carry multiple tools for performing each of these tasks can take up unnecessary space and can be inconvenient and difficult to handle while fishing. Therefore, it is desirable for anglers to have a single, compact, multifunctioning tool that can allow anglers to easily and conveniently perform the various tasks required with changing tackle and hooks and the like while out fishing. Accordingly, a need exists for an compact angler tool configured for multiple functions, including a fishing line cutting function, a hook eye clearing function and a hook eye threading function.